Features
17 Jan 24

Mexico’s electric vehicle performance in 2023

Mexico’s EVs output could double by the end of this year to 212,000 units as the country is expected to produce a third EV model during the first quarter of this year. This is a statement by Odracir Barquera, CEO of the Mexican Automotive Industry Association (AMIA) on January 9 without disclosing the name of third EV to be produced.

Mexico’s EV production reached 106,180 units in 2023: 94,436 Ford Mustang Mach-E EV were produced as well as 11,744 Chevrolet Blazer EV, Barquera confirmed during the press conference. In 2022, Mexico produced 79,471 EVs, in 2021 produced 58,453 EVs and 6,717 EVs in 2020, according to Directorio Automotriz, Mexico's national automotive directory.

Exports and sales of EV

In 2023, Mexico exported 100% of its EV production, which means, 106,180 units, a spokesperson at AMIA told GlobalFleet.

Domestic sales of EV was not disclosed by AMIA.

Points scored

Source: AMIA

Investments for EV

The US electric car manufacturer Tesla announced in March last year that it will invest $5 billion in an initial phase to build one of the largest electric vehicle plants in the world. The plant is expected to be located in the city of Santa Catarina near Monterrey in the border state of Nuevo León. Tesla's plant will serve as the production hub for its next-generation EVs. The plant is expected to produce around 1 million electric vehicles per year for the Mexican market and also send exports to countries in Latin America and Europe.

Chinese car company Jetour said last year that it plans to invest $3 billion to build a plant in the Bajío of Mexico, a region where the main automakers are located.

In addition, 83 new investments with a value of $5.02 billion related to electromobility were recorded during the first three quarters of last year, according to Directorio Automotriz. Despite the growing investment in electric and an increased production, just a few Mexicans drive EVs as these are more expensive than traditional cars and there is a lack of charging stations to make these units practical.  Mexico has around 1,100 charging stations nationwide mostly in the capital and other major cities, according to data from the AMIA.

Electric vehicles are popular with a limited number of consumers, but not with fleet customers, the spokesperson at AMIA added.  With this in mind, in Mexico, companies buy mainly regular (ICE) cars rather than BEVs.

Picture Credit: Shutterstock 624094631

Article authored by Rodrigo Alonso Cruz